What specific document is the 'Statement of Franchisee' referring to when it mentions 'the Franchise Disclosure Document' for Craters & Freighters?
Craters_Freighters Franchise · 2025 FDDAnswer from 2025 FDD Document
This disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully.
If Craters & Freighters Franchise Company offers you a franchise, it must provide this disclosure document to you 14 calendar days before you sign a binding agreement with, or make a payment to, the Craters & Freighters Franchise Company or an affiliate in connection with the proposed franchise sale. Under Illinois, Iowa, Maine, Nebraska, Oklahoma, Rhode Island, or South Dakota law, if applicable, Craters & Freighters Franchise Company must provide this disclosure document to you at your first personal meeting to discuss the franchise. Under New York law, Craters & Freighters Franchise Company must provide this disclosure document to you at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
If Craters & Freighters Franchise Company does not deliver this disclosure document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and the appropriate state agency identified on Exhibit A.
Source: Item 23 — RECEIPTS (FDD pages 50–193)
What This Means (2025 FDD)
According to the 2025 Craters & Freighters Franchise Disclosure Document, the 'Statement of Franchisee' refers to the specific disclosure document that Craters & Freighters must provide to a prospective franchisee. This document summarizes the franchise agreement and other pertinent information in plain language. The FDD indicates that Craters & Freighters must provide this document to the franchisee at least 14 calendar days before they sign any binding agreement or make any payment related to the franchise. Certain states, such as Illinois, Iowa, Maine, Nebraska, Oklahoma, Rhode Island, and South Dakota, require that the disclosure document be provided at the first personal meeting to discuss the franchise. New York requires it at the earlier of the first personal meeting or 10 business days before signing any agreement or making any payment.
The document includes several exhibits, such as a list of state agencies and agents for service of process (Exhibit A), the table of contents of operations manuals (Exhibit B), lists of current and former franchisees (Exhibits C and D), financial statements (Exhibit E), the franchise agreement (Exhibit F), state addenda (Exhibit G), the Statement of Franchisee itself (Exhibit H), a form of general release (Exhibit I), and state effective pages and receipts (Exhibit J). The franchisee must acknowledge receipt of the disclosure document and all its exhibits by signing and dating the receipt and returning it to Craters & Freighters.
It is important for the prospective franchisee to carefully review the Franchise Disclosure Document and all associated agreements. The document also explicitly states that no oral, written, visual, or other promises, agreements, commitments, representations, or understandings that expand upon or are inconsistent with the Franchise Disclosure Document or the Franchise Agreement are valid unless they are in a written addendum signed by an officer of Craters & Freighters. This underscores the importance of relying solely on the written documentation provided and seeking independent professional advice before making any commitments.